Ferreira, who was away in Malaysia, had for weeks avoided appearing before the Economic Offences Wing until a Mumbai Court hearing his anticipatory bail application asked him to appear before the police by Monday.

The Mumbai Police had on January 2 issued a lookout notice against Ferreira after he failed to appear before them despite summons in the second week of December asking him to turn up and explain his association with the company.

The Sessions Court had last Wednesday granted interim protection to Ferreira from arrest till January 31, when his anticipatory bail application will come up for hearing.

Ferreira is a shareholder in the company accused of duping investors by offering to sell magnetic discs, herbal products and holiday schemes allegedly through fraudulent practices.

QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to lure investors. The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

Ferreira has denied any wrongdoing and also defended the controversial company. The winner of the World Amateur Billiards Championship has also described as "outrageous, malicious and untruthful" the allegations against him of defrauding people through QNet.

In his anticipatory bail plea, Ferreira has said the complaint did not show commission of any offence by him.

While claiming no specific role has been attributed to him, Ferreira said Section 420 of IPC (cheating) is not made out against him and he has not deceived the complainant.

He said that any offence under Sections of Prize, Chits and Money Circulation Schemes (Banning) Act cannot be made out against him as he did not promote or conduct any prize chit or money circulation scheme.

Ferreira also said he did not enroll or participate as a member or receive or remit any money.